Igor Shuvalov found himself a deputy in Italy

This is the first time that a foreigner has entered a leadership of a state corporation.
Former Italian ambassador to Russia, Cesare Maria Ragallini, will be the new deputy chairman of the VEB.RF state corporation, a VEB.RF spokesman said. He will oversee the international bloc, the state corporation said in a statement.

In VEB.RF, Ragalini will develop cooperation of the state corporation with foreign financial organizations - for example, VEB participates in the UN program on the environment, in the Long-term Investor Club, and is engaged in interbank cooperation of BRICS. Ragalini already has such experience - while working in the diplomatic service of Italy, he worked in Iran, Canada, India, Iraq, served as permanent representative of Italy to the UN, and in 2013–2017. - Ambassador to Russia. In November 2017, Russian President Vladimir Putin awarded him the Order of Friendship.

Foreigners in Russian companies are quite common, says Oleg Shvyrkov, head of the group of corporate governance services at EY. According to EY, the share of foreigners on the boards of directors of companies with a listing of the first level of the Moscow Exchange is 19%. There are also a lot of foreigners in corporate governance, Denis Spirin, director of corporate governance at Prosperity Capital Management, knows that there were fewer Russian specialists and foreigners were more often invited to top management, although now there are enough qualified Russians in all sectors.

Foreign experience increases the efficiency of managers and companies, economist Dmitry Nekrasov wrote in a column for Vedomosti, citing international studies. Thus, during a survey of top managers of 836 corporations conducted by Accenture in 2014, 43% of respondents said that increasing the share of managers with experience abroad increases business profitability “significantly”, and 40% - “very much”, cited data Nekrasov.
 

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